120 Pips profit in GBP/USD, more fall ahead?
Updated
Hello traders, in my yesterday's trading idea(idea attached below),
I recommended selling GBP/USD around the 1.2410 level as this
was the 100-day EMA resistance.
As you can see, the price fell strongly after hitting my sell zone. My sell
trades from yesterday are in over 120 Pips profit. I expect price to fall
further. However, I will not enter any new sell trades at the moment.
However, if there is a pullback to the resistance level again, I might consider
selling.
I recommended selling GBP/USD around the 1.2410 level as this
was the 100-day EMA resistance.
As you can see, the price fell strongly after hitting my sell zone. My sell
trades from yesterday are in over 120 Pips profit. I expect price to fall
further. However, I will not enter any new sell trades at the moment.
However, if there is a pullback to the resistance level again, I might consider
selling.
Note
Took profit on the existing sells. Price getting some support on the hourly mavNote
We have BOE Gov Bailey Speech later in the day. So, that will lead to a lot of volatility.
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